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US Ends Iran, Russia Oil Waivers, Imposes New Sanctions

4/25/2026

Summary

Story summary

The United States will not renew the Iranian and Russian oil waivers, ending temporary permission for sanctioned petroleum purchases.
Treasury Secretary Scott Bessent warned at IMF meetings that the waiver lapse could harm vulnerable countries and force Iran to halt oil production within two to three days.
The Treasury Department announced additional sanctions on entities in Mohammad Hossein Shamkhani’s oil-shipping network, building on 115 sanctions imposed in July 2025.

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Story summary

The United States will not renew the Iranian and Russian oil waivers, ending temporary permission for sanctioned petroleum purchases.
Treasury Secretary Scott Bessent warned at IMF meetings that the waiver lapse could harm vulnerable countries and force Iran to halt oil production within two to three days.
The Treasury Department announced additional sanctions on entities in Mohammad Hossein Shamkhani’s oil-shipping network, building on 115 sanctions imposed in July 2025.